The Governor of the Bank of England has published a statement following the EU referendum result. The statement notes the following:

  • there will be a period of uncertainty and adjustment following the referendum result;
  • there will be no initial change in the way people in the UK can travel, in the way their goods can move or the way their services can be sold;
  • the Bank of England (BoE) will not hesitate to take additional measures as required as those markets adjust and the UK economy moves forward;
  • the capital requirements of the UK’s largest banks are now ten times higher than before the 2008 financial crisis;
  • the BoE has stress tested them against scenarios more severe than the UK currently faces;
  • as a backstop, and to support the functioning of markets, the BoE stands ready to provide more than £250bn of additional funds through its normal facilities;
  • the BoE is also able to provide substantial liquidity in foreign currency, if required; and
  • in the coming weeks the BoE will assess economic conditions and will consider any additional policy responses.

View Statement from the Governor of the Bank of England following the EU referendum result, 24 June 2016